The global transportation and security system market is one of the
emerging markets across the globe. At present, this market is mainly
focused on curbing the incidence of criminal activities and ensure
the security of passengers by deploying appropriate security measures
in public transport. In 2014, the global transportation and security
system market had reached a value of US$36.40 billion. Analysts
expect it to expand at a 10.9% CAGR during the period from 2015 to
2021 and reach US$74.50 billion by 2021.
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Transportation and Security System Market Report @ :
The key factor encouraging the growth of the transportation and
security system market across the world is the growing concern over
public safety. The advancement in technologies employed in various
types of equipment, such as metal detectors and baggage scanners, is
expected to fuel the demand for these machines, eventually
stimulating the global market for transportation and security
systems.
Roadways and Access Control Systems to Maintain Leading
Positions
Airways, railways, roadways, and seaways, the four modes of
transportation, are also the four major segments of the global
transportation and security system market. Roadways were the dominant
segment in 2014 due to it being the common mode of transportation
across the globe. This segment is expected to maintain its leadership
in the coming years.
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Access control, scanning, fire safety, surveillance, and biometrics
are the main segments of transportation and security systems market
based on system type. Among these, access control is the most common
security system. This system is deployed at a very large scale in bus
terminals, railway stations, and airports, owing to which the demand
for it is expected to maintain its high pace in the coming years.
Another crucial part of the transportation and security system is
surveillance. With the help of CCTV cameras installed in vehicles,
surveillance assist in monitoring the activities inside the vehicle,
enhancing the transportation security. Additionally, several regional
governments have mandated the usage of fire safety systems in various
modes of transportation, which, in turn, is adding significantly to
the overall transportation and security system market.
Asia Pacific Emerging as Potential Transportation and Security
System Market
North America, Europe, Asia Pacific, and the Rest of the World are
the traditional regional markets for transportation and security
systems. In 2014, North America dominated the global transportation
and security system market on account of the increased usage of
modern and highly developed electronic devices in automobiles to
improve transportation security.
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On the other hand, the rise in criminal activities in Asian
countries, particularly in India, Pakistan, Bangladesh, and Sri
Lanka, has prompted demand for transportation and security systems in
Asia Pacific. The region is emerging as the most attractive market
for transportation and security systems among all the regional
segments of the global market.
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:
Apart from this, various regulations are being enforced by several
governments for the safety of vehicles and the demand for car safety
equipment is rising at a rapid pace in this region, which is expected
to accelerate the growth of the Asia Pacific transportation and
security systems market.
Some of the major players in the global market transportation and
security are Alstom S.A., Orbcomm, Inc., Rapiscan Systems, Safran
Group, Kapsch Group, L-3 Communications, Saab Ab-B, Smiths Group,
Lockheed Martin, and Honeywell International.
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